Introduction to financial accounting theory and practice with emphasis on the role of financial information in business decisions. The course will make extensive use of computer technology for retrieving and analyzing financial information.Recommended Background: 28 ACT composite or 1250 composite SAT required.

Theory and practice for preparing and using financial statements. Introduction to professionalism and ethics in accounting.(RE) Corequisite(s): Finance 301 and Business Administration 342.Registration Restriction(s):Majors in the Haslam College of Business.

Theory and practice that underlies the preparation, analysis, and use of financial statements.(RE) Prerequisite(s): 301 with grade of C or better.Registration Restriction(s): Majors in the Haslam College of Business.

Cost information for products, services, and how cost information is recorded, analyzed, reported, and used in decision making. Topics include cost concepts and behavior, cost systems, budgeting, activity-based costing and management, and strategic cost management.(RE) Prerequisite(s): 301 with grade of C or better.Registration Restriction(s): Majors in the Haslam College of Business.

Auditing's role in society from an internal and external perspective, audit methodology, role of internal control and statistical sampling in auditing, fraud auditing, operational auditing, compliance auditing, and application of auditing procedures to specific transaction cycles.(RE) Prerequisite(s): 301 with grade of C or better.Registration Restriction(s): Majors in the College of Business Administration.

Accounting standards for advanced financial reporting topics, such as statement of cash flows, income taxes, leases, accounting changes, consolidated financial statements, and foreign operations.(RE) Prerequisite(s): 311 with grade of C or better.Registration Restriction(s): Majors in the College of Business Administration.

Fundamentals and concepts of federal income taxation. Emphasis on tax strategy, business taxation, and individual taxation. Topics include tax strategy modeling, gross income, deductions, credits, tax determination, property transactions, business entities, and basics of international taxation.(RE) Prerequisite(s): 301 with grade of C or better.Registration Restriction(s): Majors in the College of Business Administration.